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Unfr 3ilkt:yr Slfttiaual IntlUgn
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SUNDAY, 1VIAY 2-4, 1S91.
PAGES 17 TO 24
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A SUCCESS IN BANKING.
how Tnii Finai of woods co.
HAS PROSPKEED.
Its Now Homo In tho Midst of tho liusi
iiObH Activity of F Street Somo of tho.
Inducements Wliioh tho Firm Offers
to PutrotiH and Investors.
Tho Arm of Woods & Co., organized for
general bankiug business last July, opened
their establishment on tho first floor of 1100 F
street. Tho active members of the firm are
Mr. Thomas E. Woods and his soi H. T.
Woods, both of whom are well trained In
'banking affairs. Tho project was the con
ception of tho latter, and It was principally
through his efforts that it finally took shape.
With a strong financial backing the company
'began operatlpns, and its immediate success
proved the foresight of the venture. A large
number of accounts were at once opened with
them and their business became pros
perous. Tho location of the firm was so
convenient to many large mercantile
houses in the vicinity that, although they
already had accounts with other banks,
'they opened new ones with Woods & Co. A
thoroughly safe and practical method of
transacting business impressed their cus
tomers with a feoling of security, and their
business began to increase to such an extent
that in ordor to accommodate the public the
subject of seeking more commodious quarters
and obtaining greater facilities was talked of.
'This was last November, not six months after
"the firm first opened its doors. Such rapid
advancement speaks well for the firm. About
a month later W. B. Moses, whose tenantB
they were, notified them of his intention to
tear down tho building in which they were
located, as ho proposed enlarging his present
-store. The question of now quarters then be
came one of necessity. The success with,
which tho firm had met at the outset im
pressed them with the idea that there was an
opening in that locality for a large bank of
first-class standing, which could meet the de
mands of tho growing business on F street.
The numorous real estate firms on that tho
roughfare, tho continual investment of capi
tal from all over the United States, and the
formation of large real estate syndicates made
the outlook such that the Idea met with the
approval of tho firm.
In order to make tho venture more secure
before completing final arrangements the as
surance was obtained from many largo ope
rators that tho bank would receive their sup
port. Tho question of location was the most
difficult one, and It was nearly a month before
the present site at No. 1222 F street was ob
tained. A long lease was secured from the
late Dr. May and the reconstruction was at
once begun. It took but a 6hort time com
paratively to make tho big change, owing to
the rapid work which was done. Saturday,
the ISth of April, tho buildlnc was prepared
for occupancy, and on Monday moraine tho
doors of tho now bank were thrown open. In
this way not a day was lost.
Though tho firm has been in its now quar
ters but little over a month their success is
already assured. Their business was actually
more than they could handle, and for somo
tlmo it was necessary to work far into tho
night posting tho new accounts. This bank
affords an excellent opportunity for the many
Government cloiks in tho city who desire to
open an account with a small amount. It is
tho intention of tho firm to make a specialty
of these accounts. An account of $S can bo
opened with them, and in this manner a be
ginning made which can bo added to as the
ability to do so presents itself.
Thus an account may bo opened with Woods
& Co. which many banks would refuse to ac
cept and the monoy of those whose means are
not so great intrusted for safe-keeping. A
number of ladles have also transacted their
business through the medium of this new-bank.
Ladles deslriug counsel or advice dn financial
matters or the investment of their money will
find the firm courteous and obliging and ever
ready to afford them whatever aid lies within
their power.
CORRESPONDENTS IN OTHER CITIES,
The facilities of the bank aro unexcelled and
its advantages of tho best character. Its con
nections in other cities are with the prominent
firms of each. In New York they deal
with the Interstate National Bank of New
York and Blair & Co., on Wall street. In Chi
cago their business Is performed by the Metro
politan Natloual Bank, while in Baltimore J.
J, Nicholsons & Sons are their correspondents.
Each of these firms has an excellent standing
aud reputation in the respective cities in
which they aro located, and to havo business
relations with them is a recommendation in
Itself, These connections give Woods & Co.
unexcelled advantages for keeplne In touch
with al flnauclal questions and giving their
patrons the benefit of the knowledge thoy ac
quire through them. It is on these firms that
Woods & Co. draw their bills of exchange lu
those cities, while arrangements aro being
mado to have their connections more extcu
slvc. Tho inducements which tho bank offers
to depositors or Investors aro of tho most ad
vantageous character.
INTEREST HEARING DEPOSIT CERTIFICATE.
A safe and sure investment is offered in tho
interest bearing certificates of deposit, of
which they aro making a special foiture.
These certificates aro Issued for any amount
desired, tho interest to bo paid either monthly,
quarterly, or annually, as desired. Investors
aro offered every advantage, and money on
approved collateral is loaned in any amount.
The location of tho bank is an advantage to
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itself, and an accommodation to Us patrons.
Situated as it is, in tho very heart of the busi
ness houses of the city, it must necessarily
securo a largo share of their trade. Such has
proven to bo a fact, for many of tho leading
firms along F street have opened accounts
with them. The firm is accommodating In
everyway, and tho public has responded with
merited recognition, Tho bank has improved
tho street upon which It is located and ad
vanced tho price of property in its neighbor
hood, Ithas added an attractive building and af
fords facility for the business men which pre
viously did not exist,
THE MEMUER8 OP THE J'JEM.
Besides the business advantages which
this bauk controls, tho personal charac
teristics of the members of tho firm
lend an element of success. Mr. Woods
and his son, who carry on tho active
work of tho establishment, are business
men of well-known reputation. Thoy have
had a wide experience in banking and flnauclal
affairs and are painstaking to the last degree.
Thoy aro enterprising and energetic. They
keep themselves thoroughly posted in all
local operations and aro always up with tho
times. Their methods of transacting business
aro strictly practical, and tho success which
has attended them is an indication that busi
ness men generally approve of them.
THE TTOM'S NEW QUARTERS.
Tho building in which the new banking firm
took up its quarters on tho 19th day of April,
W&Wfe&'igffifflLfflSM
and which had been specially fitted up for
them in a remarkably short space of
time, while not as imposing a struc
ture as other of tho fine business
buildings on F street, is handsome in ar
chitectural appearance aud admirably fitted
for tho uses to which it has been put, It is,
as already known and stated, on the Bouth
side of F street, betweeu Twelfth and Thir
teenth streets, No. 1223. This is tho very
heart of the business centre of tho city, in
overy way convenient of access,
The main office, tho dimensions of which
are 20x50 feet, Is an extremely hand6omoroom,
and affords every advantage for the transac
tion of the extensive business conducted by
this firm.
The ceilings are very high, and at the top of
tho front and back walls aro numerous win
dows, which give excellent ventilation besides
furnishing plenty of light. Tho windows arc
all heavily barred with wrought iron, worked
in fancy and unique patterns. The walls and
ceiling aro rough plastered aud frescoed in a
dark, rich maroon color, which imparts to the
room a glow of cheerfulness seldom found.
Tho wood-work and furniture is in keoping
with tho main color, being highly polished
cherry. A high wainscot of this wood sur
rounds the room, and tho desks' and counters
aro finished in the most artistic manner, tho
whole main counter being surrounded by
fancy wrought-lron screens.
At tho south end of the room, behind tho
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counter, is the large fire and burglar-proof
vault, and tho safe which it incloses is of tho
most approved pattern. The doors of the
vault aro provided with all tho requisites to
resist tho gay and festive burglar, such as
time locks aud burglar alarms, while strong
iron braces still further protect it, and it is
6afe to say that there is not a safer, more sub
stantial, and better protected bank building
in the city.
The exterior of the building itself is a strong,
imposing, and attractive-looking structure,
which adds greatly to tho appearance of the
street on which it is located. It Is four 6torIes
in height, aud the front is constructed of se
lect brick, across tho front of which runs a
panel of Ohio Milestone, upon which, In bold
relief, in largo Koman letters, is inscribed,
"Woods" & Co., Bankers." Tho other outside
trimmings aro of the same stone, which con
trasts very strikingly with tho bright redbrick,
a largo portion of which is carved, composing
tho front.
Tho entrance is an arched doorway, on
either side of which aro arched windows all
protected with grills. Abovo tho stone bear
ing the firms name aro seven more arched
windows, which furnish an abundance of light
aud good air to tho main room. Directly in
tho rear of the banking-room aro tho well
furnished prlvato rooms of tho firm, where
one will always find Mr. Woods prepared to
transact business with them. The building
has that appearance of security and sub
stantiality which is to bo seen in all well
regulated banks, and the firm can well take
prido In tho venture which has proven so suc
cessful. In the remodeling and refitting of
tho building over $10,000 were expended.
Thollrm entered their now quarters on the
20th of April, since which time their steady
advance has been very marked. They stand
prominent in tho ranks of the prominent
banking establishments in this city.
A TALK WITH MR. H. T. WOODS.
"Our bank," said Mr. H. T. Woods, of
Woods & Co., "though in its Infancy, has
been successful to a degree that we did not
anticipate in such a short time. Our business
has rapidly increased since we entered our
new quarters, aud tho public has given us
liberal patronage. The opportunity we offer
to those whose means are not very ijrcat has
already been taken advantage of by a large
number, and the benefits cannot but bo evi
dent to those who understand it. I refer to
our readiness to open accounts with any re
spectable person for an amount as small as $5.
This is not an advantage to us, but wo offer
to opon such accounts for the accomodation
of our patrons. To start a bank account, no
matter how small, is a benefit to any one. It
is an encouragement to tho formation of a
habit of putting money away, saving it, and
at the same time adding to it, instead of
having it within reach so that it can be easily
obtained and more easily spent. Hundreds,
yes, thousands of dollars are literally thrown
away in this city each year simply because
' they think the amount too Bmall to put in a
bank for safo keeping.
"There aro many people in this city who
have a small surplus over their exponses every
week or month who carry it around in their
pockets and consequently spend it. These
are the persons to whom we offer an oppor
tunity to commence putting their earnings
away, a habit which once formed is lasting
and cannot do otherwise than accomplish
excellent results.
"If a bank which was willing to accept de
posits of this character were at hand a large
majority of theso persons would take ad
vantage of it and place their savings in It.
Then, too, this method affords a chanoe for
children and youths to begin early in life the
custom of putting away each week or month,
or whenever they can, a certain amount.
"Tbo simple possession of a bank-book
gives one an idea of self-reliance and self-importance
which in a young person is a factor
of immense Importance. Such a person would
soon acquire a pride in their bank account
which they would lncreaso as their deposits
grow larger. This very start in keoping an
account gives an early insight Into banking
methods and the manner of transacting busi
ness. This early training is invaluable to a.
young person.
"For young men especially tho idea of es
tablishing a bank account is of tho utmost
importance. Thero aro many young men In
this city who live at homo and whoso ex
penses amount to very Httlo who could not do
better than to begin tho habit of putting away
regularly each week a stated amount of their
salary. Tho benefits of this must bo apparent
to every one. To be sure, it might bo argued
against this that childreu or young men would
becomo grasping and grow up Into avaricious
men and women, but there is Httlo danger of
such a result nowadays. Tho tendency, 1
think, Is rathor in tho opposite direction. All
the danger lies tho other way. Especially is
this true in a city like Washington, where
there aro so many ways to spend money and
dissipate. Carelessness in money matters and
prodigality are two of the greatest evils of the
times, and overy means which will teach tho
young people to savo is bouud to exert a bone
ficial influence.
"Another opportunity wo offer is our Interest-bearing
certificates of doposlt. These
certificates are a sure and safe (investment.
When a person signifies his iutention of tak
ing out oue, wo do not open bauk account
with him, but give him a receipt, wnicli is
practically a time note. For instance, if ojjo
should say I will not want to use thif raowjy
for a month or six mouths or a year or aiy
length of time,' wo issue to him one of tLeso
certificates, allowing him a uoto of Interest
according to the time the money is deposited.
On demand, however, the money can bo with
drawn, aud under theso circumstances wo al
low 3 per cent, per annum for the length of
tinio tho monoy is on deposit. For instance,
if a person wishes to buy a house and has
cash while ho Is looking around tho money
can bo safo, and at the same time draw in
terest. "We ul60 transact business for people who
havo money to loan on real estate. Wo con
duct the business details of all transactions,
aud our own attorney looks after the titles
and prepares abstracts, etc , thus rellevini
the loauer from the
worry and trouble of the
routiue work."
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